Tue, Nov 29, 2022 @ 15:40 GMT

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.9949; (P) 0.9995; (R1) 1.0079; More

Intraday bias in USD/CHF stays on the upside at this point. Firm break of 1.0146 will resume larger up trend. Next target is 1.0283 projection level. On the downside, below 1.0003 minor support will turn intraday bias neutral first. But outlook will stay bullish as long as 0.9840 support holds, in case of retreat.

In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Next target is 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9779 support holds, even in case of deep pull back.

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